Storefront sales hit NT$60 bil. last year: Yung Ching
The China Post news staffTAIPEI, Taiwan -- Sales of storefronts in Taiwan hit NT$60 billion last year, of which 18 percent were contributed by sales in Taipei, a report by Yung Ching Realty showed yesterday.
January 30, 2013, 11:55 am TWN
The report was based on real-value price registration information that Yung Ching obtained from the Ministry of the Interior (MOI). Taiwan in August last year began the so-called real-value price registration, under which buyers are to report the real transaction prices that they purchased their properties with.
The MOI data suggested that from August to October, storefront sales in Taiwan totaled NT$1.128 billion, and Yung Ching estimated that for the whole 2012, sales totaled NT$60 billion.
The data also showed that most of the sales were concentrated in Taiwan's six major metropolises including Taipei, Kaohsiung City, New Taipei City, Taichung City, Taoyuan County and Tainan City. Sales were the highest in Taipei, which contributed to 18 percent of total transactions. The capital city was followed by Kaohsiung City and New Taipei City.
Taipei also saw the highest storefront transaction prices, which averaged NT$1.02 million a ping, or 3.3 square meters. The figure more than doubled the NT$485,000 unit price for New Taipei.
Hsinchu City had the third highest storefront price of NT$400,000, followed by Hsinchu County and Taichung City, where prices stood at NT$290,000 a ping.
According to Yung Ching, 2012 sales were robust due to an influx of mainland Chinese tourists. With the daily quota of Chinese tourists set to rise from 4,000 to 5,000 this year, sales are expected to be stronger, it said.